Government to cut basmati export price | India News
India News: The Indian government plans to lower the Minimum Export Price (MEP) for basmati rice from $1200 to $950 per tonne. This move comes after rice exporter
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India News: The Indian government plans to lower the Minimum Export Price (MEP) for basmati rice from $1200 to $950 per tonne. This move comes after rice exporter
The government, which imposed a floor price of $1200 a tonne for overseas shipments in August to cool domestic prices, has approved a decision to reduce it to $950 a tonne in a meeting on Monday | Latest News India
The government extended export curbs on basmati on 14 October until further notice, triggering protests by farmers and exporters, who said the high floor price made Indian consignments uncompetitive.
Haryana State Agricultural Marketing Board chairman Aditya Devi Lal admitted that the farmers have faced losses due to rain and hailstorm in their fields and mandis.
India will continue to apply a minimum export price of $1,200 per tonne on basmati price to curb overseas shipments, according to a notification on Sunday | Latest News India